Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
February 7, 2023
Consolidated Financial Results
for the Nine Months Ended December 31, 2022
(Under Japanese GAAP)
Company name: | MITSUI-SOKO HOLDINGS Co., Ltd. |
Listing: | Tokyo Stock Exchange |
Securities code: | 9302 |
URL: | https://www.mitsui-soko.com/en/ |
Representative: | Hirobumi Koga, Representative Director, President & Group CEO |
Inquiries: | Hirobumi Matsui, Executive Officer of Finance and Accounting |
Telephone: | +81-3-6400-8006 |
Scheduled date to file quarterly securities report: | February 8, 2023 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on quarterly financial results: Yes | |
Holding of quarterly financial results briefing: | Yes (for securities analysts and |
institutional investors) |
(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year changes.) | ||||||||
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Nine months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
December 31, 2022 | 234,317 | 8.1 | 21,338 | 17.6 | 22,115 | 21.3 | 13,191 | 27.9 | |
December 31, 2021 | 216,769 | 16.0 | 18,137 | 34.4 | 18,227 | 35.1 | 10,309 | 30.1 | |
Note: Comprehensive income | For the nine months ended December 31, 2022: ¥17,073 million | [25.4%] | |||||||
For the nine months ended December 31, 2021: ¥13,612 million | [5.6%] | ||||||||
Basic earnings per | Diluted earnings per | ||||||||
share | share | ||||||||
Nine months ended | Yen | Yen | |||||||
December 31, 2022 | 530.57 | - | |||||||
December 31, 2021 | 415.12 | - |
(2) Consolidated financial position
Total assets | Net assets | ||
As of | Millions of yen | Millions of yen | |
December 31, 2022 | 259,912 | 99,823 | |
March 31, 2022 | 258,297 | 88,631 | |
Reference: Equity capital | |||
As of December 31, 2022: | ¥89,743 million | ||
As of March 31, 2022: | ¥79,458 million |
Equity ratio
%
34.5
30.8
2. Cash dividends
Annual dividends per share | ||||||
First quarter-end | Second quarter-end | Third quarter-end | Fiscal year-end | Total | ||
Yen | Yen | Yen | Yen | Yen | ||
Fiscal year ended | - | 35.00 | - | 94.00 | 129.00 | |
March 31, 2022 | ||||||
Fiscal year ending | - | 72.00 | - | |||
March 31, 2023 | ||||||
Fiscal year ending | 115.00 | 187.00 | ||||
March 31, 2023 | ||||||
(Forecast) | ||||||
Note: Revisions to the forecast of cash dividends most recently announced: Yes |
As for the revision to the dividends forecast, please refer to "(3) Explanation of earnings forecasts and other forward- looking statements," under "1. Qualitative information on quarterly financial results," on page 4 of the attached materials.
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)
(Percentages indicate year-on-year changes.)
Profit attributable to | Basic | ||||||||
Operating revenue | Operating profit | Ordinary profit | earnings per | ||||||
owners of parent | |||||||||
share | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Fiscal year ending | 305,500 | 1.5 | 26,000 | 0.2 | 26,400 | 3.3 | 15,500 | 6.9 | 623.36 |
March 31, 2023 | |||||||||
Note: Revisions to the earnings forecasts most recently announced: Yes |
* Notes
-
Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
Newly included: -
Excluded: - - Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
- Changes in accounting policies, changes in accounting estimates, and restatement
- Changes in accounting policies due to revisions to accounting standards and other regulations: None
- Changes in accounting policies due to other reasons: None
- Changes in accounting estimates: None
- Restatement: None
- Number of issued shares (common shares)
- Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022
As of March 31, 2022
24,921,802 shares
24,883,002 shares
(ii) Number of treasury shares at the end of the period
As of December 31, 2022
As of March 31, 2022
46,770 shares
46,684 shares
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022
Nine months ended December 31, 2021
24,862,167 shares
24,836,326 shares
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
-
Proper use of earnings forecasts, and other special matters
Figures for the forecasts, outlooks, and targets described in this report that are not historical facts are calculated based on the currently available information and uncertain factors that may have an effect on future performance. The actual results may differ from the forecasts. Regarding earnings forecasts, please refer to "(3) Explanation of earnings forecasts and other forward-looking statements," under "1. Qualitative information on quarterly financial results," on page 4 of the attached materials.
MITSUI-SOKO HOLDINGS Co., Ltd. (9302) | ||
Attached Materials | ||
Index | ||
1. Qualitative information on quarterly financial results | 2 | |
(1) | Explanation of operating results | 2 |
(2) | Explanation of financial position | 3 |
(3) | Explanation of earnings forecasts and other forward-looking statements | 4 |
2. Quarterly consolidated financial statements and significant notes thereto | 7 | |
(1) | Quarterly consolidated balance sheet | 7 |
(2) | Quarterly consolidated statement of income and quarterly consolidated statement of | |
comprehensive income | 9 | |
Quarterly consolidated statement of income | ||
[For the first nine months] | 9 | |
Quarterly consolidated statement of comprehensive income | ||
[For the first nine months] | 10 | |
(3) | Quarterly consolidated statement of cash flows | 11 |
(4) | Notes to quarterly consolidated financial statements | 12 |
Notes on premise of going concern | 12 | |
Notes when there are significant changes in amounts of shareholders' equity | 12 | |
Segment information, etc | 12 | |
3. Supplemental information | 14 |
- 1 -
MITSUI-SOKO HOLDINGS Co., Ltd. (9302)
1. Qualitative information on quarterly financial results
-
Explanation of operating results
The overview of the financial results for the nine months ended December 31, 2022 is as follows.
(Millions of yen) | ||||
Nine months | Nine months | Year-on-year | ||
Consolidated total amount | ended December | ended December | Changes | |
comparison | ||||
31, 2021 | 31, 2022 | |||
Operating revenue | 216,769 | 234,317 | 17,547 | 8.1% |
Operating profit | 18,137 | 21,338 | 3,200 | 17.6% |
Ordinary profit | 18,227 | 22,115 | 3,887 | 21.3% |
Profit attributable to owners of parent | 10,309 | 13,191 | 2,881 | 27.9% |
- For operating revenue and all levels of profit, revenue and profit increased year on year.
- The resumption of economic and social activities continues amid the lingering effects of global supply chain disruptions. In this environment, the Group accurately grasped the rapidly changing needs of customers, and made proposals for alternate transportation routes and to increase efficiency in logistics. As a result, the Group acquired new customers, expanded the range of business contracts with existing customers and increased the handling volume in the freight forwarding business.
Operating results by segment are as follows.
(a) | Logistics Business | ||||
(Millions of yen) | |||||
Nine months | Nine months | Year-on-year | Changes | ||
Logistics Business | ended December | ended December | |||
comparison | |||||
31, 2021 | 31, 2022 | ||||
Operating revenue | 210,243 | 227,785 | 17,542 | 8.3% | |
Operating profit | 16,381 | 19,622 | 3,240 | 19.8% | |
Business environment: The business environment surrounding the Company is as follows.
- The prolonging of the situation in Ukraine, global labor market tightness, persistent high energy procurement costs, and rising prices amid the depreciation of the yen have led to constraints on businesses in the procurement of raw materials and components.
- However, in conjunction with the resumption of economic and social activities, the gradual recovery trend in production activities of businesses continues, albeit with some ups and downs.
- In addition, the shortage of marine containers and other disruptions in the marine shipping market, and constraints on available cargo space accompanying the decrease in the number of air passenger flights are beginning to ease. The shortages of sea and air transport space and the surge in freight costs continue at levels exceeding those prior to the COVID-19 pandemic, but are currently showing signs of abating.
Operating situation: The situation regarding the operating activities of the Company is as follows.
- Upon experiencing supply chain disruptions, the Group accurately grasped the rapidly changing needs of customers, flexibly secured transport space and increased the handling volume in the freight forwarding business.
- As a result of making the following proposals to customers, the Group acquired new customers, expanded the range of business contracts with existing customers and increased the handling volume in the overseas logistics business and the freight forwarding business.
- Proposed alternate transportation routes that contribute to customers' business continuity plans (BCPs)
- Proposed logistics solutions to reduce environmental impact
- 2 -